5623 W Myrtle Ave - Apartments FOR SALE


Glendale, AZ 85301- Westside
$2,350,000 USD
602-320-8126
5623 W Myrtle Ave, Glendale, AZ for Sale
$2,350,000 USD
Apartments - FOR SALE
1/20
null | Request Cap Rate

5623 W Myrtle Ave
Glendale, AZ 85301
Westside


OVERVIEW

Positioned just north of the Glendale Avenue and 57th Avenue intersection in the charming Caitlin Court historic district sits Myrtle Court (“the property”), a fully renovated 15-unit multifamily community. The asset's proximity and direct exposure to Glendale Avenue provides excellent visibility from one of the primary roadways in Phoenix's West Valley Submarket. Positioned approximately 3-miles from Glendale's Westgate Entertainment District and the Cardinal's Statefarm Stadium offering residents access to premier entertainment and dining experiences, including NFL Football Games, concerts, and much more. In addition, the TSMC Campus, representing Arizona’s largest foreign direct investment in the state’s history, has been a primary catalyst to the West Valley’s boom. TSMC’s Campus is expected to total $40B in capital investment, add ±24,000 new jobs and 40 new companies relating to the Advanced Manufacturing sector coming to the surrounding area as a direct result of this monumental project. The West Valley is also home to some of The Valley's top major employment corridors, including, Loop 101 West Corridor, South Peoria Corridor, and SW Valley Industrial Corridor, boasting a combined ±148,000 employees and ±3,900 businesses. Completed in 1965 and renovated in 2024, Myrtle Court is comprised of 14 two-bedroom units (93%) and 1 three-bedroom house (7%), offering an average of ±672 square feet. All unit interiors have been completely renovated with new stainless-steel appliances, cabinets, flooring, quartz countertops, hardware and fixtures. In addition, the entire community has been renovated inclusive of smooth stucco, paint, landscaping, community laundry room, windows, electrical, roofs and mini-split HVAC systems.

FOR SALE DETAILS

PRICE

$2,350,000 USD

PRICE/SF

$233 USD /SF

# OF UNITS

15

PRICE/UNIT

$156,667

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Myrtle Court

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

13,939 SF

ZONING

R-4, Glendale

APN/PARCEL ID

147-25-037,147-25-038

ASK ABOUT THIS PROPERTY

Paul BayMarcus & MillichapMore Info
602-320-8126

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Paul BayMarcus & MillichapMore Info
602-320-8126

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.